Am I correct in understanding that a large prior year's capital loss (long term) rolls forward at only $3K/yr unless there is current year long term capital gain that can be offset to a greater extent? And if so, does distributions beyond basis (S corp owner)(Ln 16D on K1) qualify as LT cap gain accordingly? If so, how do I make TT (desktop) calculate that properly? Currently it is not.
Thank you,
